National Bank of Canada Top Holdings and 13F Report (2025)

About National Bank of Canada

National Bank of Canada OTCMKTS: NTIOF has filed 13-F forms with the SEC as an investor. National Bank of Canada is itself a publicly traded company. National Bank of Canada is a diversified financial services institution headquartered in Montreal, Quebec. Founded in 1859, it is one of Canada’s largest banks and serves individuals, businesses, institutional clients and governments through a range of banking and investment services. For more information on National Bank of Canada stock, visit the National Bank of Canada stock profile here.

Investment Activity

National Bank of Canada has $139.83 billion in total holdings as of June 30, 2025.
National Bank of Canada owns shares of 3,116 different stocks, but just 158 companies or ETFs make up 80% of its holdings.
Approximately 21.34% of the portfolio was purchased this quarter.
About 15.76% of the portfolio was sold this quarter.
This quarter, National Bank of Canada has purchased 2,933 new stocks and bought additional shares in 1,204 stocks.
National Bank of Canada sold shares of 963 stocks and completely divested from 319 stocks this quarter.

Largest Holdings

NVIDIA: $7,763,103,425
Microsoft: $4,278,878,528
Alphabet: $4,072,939,221
Micron Technology: $3,746,565,393
Apple: $3,722,660,233

Largest New Holdings this Quarter

037833900 - APPLE INC: $889,521,576 Holding
595112903 - MICRON TECHNOLOGY INC: $681,031,100 Holding
573874954 - MARVELL TECHNOLOGY INC: $473,645,100 Holding
874039950 - TAIWAN SEMICONDUCTOR MANUFAC: $382,056,000 Holding
459200951 - INTERNATIONAL BUSINESS MACHS: $314,308,417 Holding

Largest Purchases this Quarter

Meta Platforms: 2,688,422 shares (about $1.51B)
APPLE INC: 30,741 shares (about $889.52M)
META PLATFORMS INC: 14,713 shares (about $828.77M)
MICRON TECHNOLOGY INC: 7,091 shares (about $818.51M)
ALPHABET INC: 21,701 shares (about $772.32M)

Largest Sales this Quarter

Advanced Micro Devices: 2,909,427 shares (about $1.69B)
Apple: 5,132,891 shares (about $1.49B)
ADVANCED MICRO DEVICES INC: 22,621 shares (about $1.31B)
Micron Technology: 1,077,211 shares (about $1.24B)
UNITEDHEALTH GROUP INC: 22,426 shares (about $932.09M)

Sector Allocation Over Time

Selling

Neutral

Buying

Latest 13F Holdings and Changes Since Previous Quarterly Filing

Issuer Name	Holdings Value	Approximate Purchase/Sale	Change in Shares	Shares Held	% of Portfolio	Sector
NVDA NVIDIA	$7,763,103,425	$217,800,531 ▼	-2.7%	38,799,597	5.6%	Technology
MSFT Microsoft	$4,278,878,528	$160,944,994 ▼	-3.6%	11,471,101	3.1%	Technology
GOOGL Alphabet	$4,072,939,221	$232,587,826 ▲	6.1%	11,397,542	2.9%	Communication Services
MU Micron Technology	$3,746,565,393	$1,243,307,702 ▼	-24.9%	3,246,052	2.7%	Technology
AAPL Apple	$3,722,660,233	$1,485,156,657 ▼	-28.5%	12,865,989	2.7%	Technology
RY Royal Bank Of Canada	$3,378,842,571	$35,875,624 ▲	1.1%	16,356,045	2.4%	Finance
AMZN Amazon.com	$3,363,699,103	$570,840,467 ▲	20.4%	14,113,689	2.4%	Consumer Discretionary
TD Toronto Dominion Bank	$3,319,681,108	$9,573,743 ▼	-0.3%	27,343,546	2.4%	Finance
META Meta Platforms	$3,192,079,761	$1,514,337,629 ▲	90.3%	5,666,938	2.3%	Communication Services
AVGO Broadcom	$2,748,872,245	$479,953,882 ▲	21.2%	7,277,531	2.0%	Technology
GOOG Alphabet	$2,491,116,784	$207,933,582 ▼	-7.7%	7,050,507	1.8%	Communication Services
BMO Bank Of Montreal	$1,835,977,875	$62,615,681 ▼	-3.3%	10,405,423	1.3%	Finance
MICRON TECHNOLOGY INC	$1,754,520,800	$818,507,039 ▲	87.4%	15,200	1.3%	PUT
TSLA Tesla	$1,721,082,181	$525,475,309 ▼	-23.4%	4,091,989	1.2%	Consumer Discretionary
ALPHABET INC	$1,720,634,019	$772,322,561 ▲	81.4%	48,347	1.2%	PUT
NVIDIA CORPORATION	$1,569,048,054	$837,887,428 ▼	-34.8%	78,418	1.1%	PUT
CM Canadian Imperial Bank of Commerce	$1,555,647,573	$67,455,389 ▲	4.5%	13,539,141	1.1%	Finance
BNS Bank of Nova Scotia	$1,361,796,832	$62,770,479 ▼	-4.4%	15,686,925	1.0%	Finance
AMAZON COM INC	$1,314,206,760	$576,091,614 ▲	78.0%	55,140	0.9%	PUT
INTC Intel	$1,222,681,332	$64,250,149 ▼	-5.0%	8,756,909	0.9%	Technology
MICROSOFT CORP	$1,215,187,254	$34,840,068 ▲	3.0%	32,577	0.9%	PUT
JPM JPMorgan Chase & Co.	$1,155,666,617	$54,173,928 ▼	-4.5%	3,531,066	0.8%	Finance
SHOPIFY INC	$1,143,127,917	$318,418,204 ▼	-21.8%	10,020,663	0.8%	CL A SUB VTG SHS
ENB Enbridge	$1,121,155,439	$65,362,465 ▲	6.2%	20,703,852	0.8%	Energy
MFC Manulife Financial	$1,075,464,697	$15,759,519 ▲	1.5%	26,549,435	0.8%	Finance
META PLATFORMS INC	$1,053,239,642	$828,768,577 ▲	369.2%	18,698	0.8%	PUT
BN Brookfield	$1,036,076,594	$4,953,869 ▲	0.5%	24,328,364	0.7%	Finance
BRK.B Berkshire Hathaway	$1,033,014,436	$439,427,797 ▲	74.0%	2,064,664	0.7%	Finance
MRVL Marvell Technology	$1,000,860,144	$707,504,246 ▲	241.2%	3,360,134	0.7%	Technology
PALANTIR TECHNOLOGIES INC	$958,337,723	$407,730,212 ▲	74.1%	8,213,944	0.7%	CL A
AMD Advanced Micro Devices	$933,902,540	$1,689,866,580 ▼	-64.4%	1,607,891	0.7%	Technology
APPLE INC	$889,521,576	$889,521,576 ▲	New Holding	30,741	0.6%	CALL
TSM Taiwan Semiconductor Manufacturing	$888,377,022	$53,422,461 ▲	6.4%	1,860,966	0.6%	Technology
TESLA INC	$858,024,000	$124,077,000 ▼	-12.6%	20,400	0.6%	PUT
LLY Eli Lilly and Company	$830,675,558	$86,826,633 ▲	11.7%	692,569	0.6%	Healthcare
CNI Canadian National Railway	$805,306,841	$9,068,603 ▲	1.1%	6,761,268	0.6%	Industrials
PALANTIR TECHNOLOGIES INC	$763,021,800	$539,587,083 ▲	241.5%	65,400	0.5%	PUT
CSCO Cisco Systems	$758,233,808	$108,861,083 ▼	-12.6%	6,455,364	0.5%	Technology
CNQ Canadian Natural Resources	$748,720,287	$275,968,134 ▲	58.4%	19,011,978	0.5%	Energy
COST Costco Wholesale	$702,674,399	$83,315,255 ▲	13.5%	751,142	0.5%	Consumer Staples
MICRON TECHNOLOGY INC	$681,031,100	$681,031,100 ▲	New Holding	5,900	0.5%	CALL
UNH UnitedHealth Group	$670,677,564	$919,615,907 ▼	-57.8%	1,613,767	0.5%	Healthcare
TRP TC Energy	$661,436,783	$18,454,325 ▼	-2.7%	10,054,565	0.5%	Energy
WALMART INC	$660,575,750	$59,592,059 ▼	-8.3%	5,832,209	0.5%	COM
BROADCOM INC	$643,119,375	$495,003,600 ▲	334.2%	17,025	0.5%	PUT
LAM RESEARCH CORP	$626,810,933	$445,423,683 ▼	-41.5%	1,446,518	0.4%	COM NEW
NOW ServiceNow	$618,946,048	$384,021,982 ▲	163.5%	6,234,306	0.4%	Technology
CP Canadian Pacific Kansas City	$610,327,795	$2,053,403 ▼	-0.3%	7,056,476	0.4%	Industrials
AEM Agnico Eagle Mines	$606,140,583	$40,065,579 ▲	7.1%	3,924,070	0.4%	Materials
SU Suncor Energy	$598,709,885	$48,301,882 ▲	8.8%	11,148,622	0.4%	Energy
NFLX Netflix	$598,590,796	$218,857,778 ▲	57.6%	8,381,907	0.4%	Communication Services
WDC Western Digital	$580,953,189	$303,277,996 ▲	109.2%	909,546	0.4%	Technology
APPLE INC	$567,319,216	$383,604,552 ▲	208.8%	19,606	0.4%	PUT
SERVICENOW INC	$546,040,000	$405,062,400 ▲	287.3%	55,000	0.4%	PUT
INTEL CORP	$509,688,876	$45,657,534 ▲	9.8%	36,504	0.4%	PUT
BCE BCE	$498,741,127	$41,230,244 ▲	9.0%	23,165,717	0.4%	Communication Services
XOM ExxonMobil	$493,430,803	$292,097,169 ▲	145.1%	3,608,624	0.4%	Energy
ADVANCED MICRO DEVICES INC	$493,192,590	$377,010,590 ▲	324.5%	8,490	0.4%	CALL
QCOM Qualcomm	$490,330,408	$306,965,596 ▲	167.4%	2,653,357	0.4%	Technology
ADVANCED MICRO DEVICES INC	$485,059,850	$1,314,076,511 ▼	-73.0%	8,350	0.3%	PUT
MARVELL TECHNOLOGY INC	$473,645,100	$473,645,100 ▲	New Holding	15,900	0.3%	PUT
KLAC KLA	$464,436,424	$421,813,703 ▲	989.6%	1,539,211	0.3%	Technology
SLF Sun Life Financial	$457,769,666	$64,853,194 ▼	-12.4%	5,850,227	0.3%	Finance
MA Mastercard	$452,367,344	$46,348,080 ▲	11.4%	880,967	0.3%	Finance
IBM International Business Machines	$434,630,016	$324,161,334 ▲	293.4%	1,545,593	0.3%	Technology
AMAT Applied Materials	$415,917,085	$428,925,159 ▼	-50.8%	575,240	0.3%	Technology
FTS Fortis	$399,637,989	$11,946,825 ▲	3.1%	6,992,312	0.3%	Utilities
CI Cigna Group	$396,005,041	$341,880,835 ▲	631.7%	1,436,453	0.3%	Healthcare
BAC Bank of America	$389,747,928	$182,837,722 ▼	-31.9%	6,840,690	0.3%	Finance
TAIWAN SEMICONDUCTOR MANUFAC	$382,056,000	$382,056,000 ▲	New Holding	8,000	0.3%	PUT
WPM Wheaton Precious Metals	$378,762,002	$22,059,560 ▲	6.2%	3,371,444	0.3%	Materials
NETFLIX INC.	$377,855,940	$366,767,520 ▲	3,307.7%	52,921	0.3%	PUT
SANDISK CORP	$371,072,736	$223,280,286 ▲	151.1%	1,632	0.3%	PUT
SPY SPDR S&P 500 ETF Trust	$357,577,505	$62,419,667 ▲	21.1%	479,106	0.3%	ETF
WCN Waste Connections	$351,274,809	$19,318,277 ▲	5.8%	2,114,692	0.3%	Industrials
MCD McDonald's	$350,779,716	$155,281,784 ▲	79.4%	1,297,547	0.3%	Consumer Discretionary
CCJ Cameco	$345,786,829	$20,082,945 ▲	6.2%	3,420,928	0.2%	Energy
GS The Goldman Sachs Group	$342,685,988	$59,332,607 ▲	20.9%	338,807	0.2%	Finance
APPLIED MATLS INC	$339,810,000	$262,449,000 ▲	339.3%	4,700	0.2%	CALL
JNJ Johnson & Johnson	$333,336,815	$106,213,271 ▼	-24.2%	1,312,753	0.2%	Healthcare
KO CocaCola	$333,217,099	$69,946,222 ▲	26.6%	4,100,097	0.2%	Consumer Staples
RCI Rogers Communication	$333,079,267	$22,781,469 ▼	-6.4%	10,255,826	0.2%	Communication Services
HD Home Depot	$331,663,636	$90,254,182 ▼	-21.4%	940,786	0.2%	Consumer Discretionary
GE GE Aerospace	$317,212,512	$79,096,462 ▲	33.2%	848,804	0.2%	Industrials
BKNG Booking	$316,252,682	$307,071,236 ▲	3,344.5%	1,774,284	0.2%	Consumer Discretionary
INTERNATIONAL BUSINESS MACHS	$314,308,417	$314,308,417 ▲	New Holding	11,177	0.2%	PUT
APH Amphenol	$312,721,976	$112,659,254 ▲	56.3%	1,773,625	0.2%	Technology
MRK Merck & Co., Inc.	$312,667,914	$60,690,156 ▲	24.1%	2,433,801	0.2%	Healthcare
FNV Franco-Nevada	$308,536,299	$26,834,122 ▲	9.5%	1,482,000	0.2%	Materials
TU TELUS	$304,265,369	$51,297,705 ▲	20.3%	28,782,793	0.2%	Communication Services
NTR Nutrien	$301,912,771	$16,417,596 ▲	5.8%	4,821,455	0.2%	Materials
CELESTICA INC	$294,608,848	$16,026,075 ▲	5.8%	809,426	0.2%	COM
TXN Texas Instruments	$293,146,032	$646,508 ▲	0.2%	983,489	0.2%	Technology
ORCL Oracle	$283,261,101	$149,427,642 ▼	-34.5%	1,931,417	0.2%	Technology
THE CIGNA GROUP	$272,096,160	$272,096,160 ▲	New Holding	9,870	0.2%	PUT
ADI Analog Devices	$270,096,176	$23,195,913 ▲	9.4%	680,052	0.2%	Technology
PBA Pembina Pipeline	$268,386,624	$2,579,283 ▲	1.0%	5,810,105	0.2%	Energy
QSR Restaurant Brands International	$262,523,289	$6,950,527 ▲	2.7%	3,649,628	0.2%	Consumer Discretionary
CAT Caterpillar	$258,295,225	$39,925,589 ▼	-13.4%	242,726	0.2%	Industrials
PG Procter & Gamble	$258,080,726	$91,855,805 ▼	-26.2%	1,760,373	0.2%	Consumer Staples

Showing largest 100 holdings. View all holdings.

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National Bank of Canada Top Holdings and 13F Report (2025)

About National Bank of Canada

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

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National Bank of Canada Top Holdings and 13F Report (2025)

About National Bank of Canada

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Map of 500 Largest Holdings ofNational Bank of Canada

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools